Ping An Insurance - getting closer to another breakout
The support at 29.85 was fairly strong and the price point proven itself to a minor rally but ain't strong enough to break out from the bearish trend line.
We are at this juncture once more where it could either break out soon and continues rally or revisit the support line at 29.85 , consolidate for a while more before the breakout, hopefully not a breakdown.
It pays a good stable dividend of over 7% and is pretty diversified in tech, insurance both online and offline and secure businesses from the government as well. At its peak, it was well over 100 and now at 35, it is almost a 70% fall from its glorious days.
Good to accumulate and wait out for the tide to turn around..........
We are at this juncture once more where it could either break out soon and continues rally or revisit the support line at 29.85 , consolidate for a while more before the breakout, hopefully not a breakdown.
It pays a good stable dividend of over 7% and is pretty diversified in tech, insurance both online and offline and secure businesses from the government as well. At its peak, it was well over 100 and now at 35, it is almost a 70% fall from its glorious days.
Good to accumulate and wait out for the tide to turn around..........
Nota
once again, we are facing the resistance level at the upper channel, will it break out or fail to go lower ?Nota
oops, it falters from the resistance line which is good news for those who wants to accumulate or go LONGNota
finally, it has broke out of the descending trend line, let's wait for tomorrow to see if it has a bullish signalNota
OMG, too much stocks to buy and too little capital to spread over so need to be discerning 
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